Montréal - The Autorité des marchés financiers (the "AMF") has launched a penal proceeding in the judicial district of Longueuil against Yvan Prévost, for purporting to be a financial security advisor or having used the title without being registered as such with the AMF. It is also filing an administrative proceeding against Marc St-Onge,The respondent Marc St-Onge should not be confused with Marc St-Onge who holds certificate 131581 in insurance of persons and group insurance of persons and is attached to the firm Services financiers St-Onge inc.Invico Investissements et Retraite inc. (Invico) and Invico Financial Group Inc. (Invico Group).

Penal componentThe AMF has therefore launched a penal proceeding including two charges against Yvan Prévost for purporting to be a financial security advisor without being registered as such with the AMF. Yvan Prévost is liable to a minimum fine of $4,000.

Administrative componentThe AMF has also asked the Bureau de décision et de révision (the "Bureau") to make various provisions with respect to Marc St-Onge, the responsible officer of Invico and Invico Group. It recommended imposing an administrative penalty of $10,000 on him and prohibiting him from acting as the responsible officer of a firm for a period of five years.

The AMF also asked the Bureau to impose an administrative penalty of $30,000 on Invico and order it to change its responsible officer and to set up control and supervision measures.

The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.